One of the things that makes Milton Keynes such a special city is our thriving community of small businesses – from family-run cafés and independent retailers to tech start-ups and creative firms. They bring life to our high streets, provide jobs, and make our city centre a place people want to spend time in.
But for too long, the way our business rates system has worked has held too many of them back. Under the current rules, a business can lose all of its Small Business Rates Relief the moment it tries to grow and open a second location. That “cliff-edge” system doesn’t just penalise ambition – it stops potential expansion in its tracks.
That’s why I was pleased to join my fellow Milton Keynes colleagues, Chris Curtis MP, Callum Anderson MP, and Council Leader Pete Marland last week in welcoming Treasury Minister Dan Tomlinson MP to Milton Keynes. We met with local traders at Great Linford Local Centre to talk through Labour’s reforms to business rates – reforms we promised in our election manifesto and are now delivering.
These changes will make it easier for entrepreneurs to expand without facing sudden tax hikes. Alongside a 40% cut in business rates for around 250,000 shops, pubs and restaurants across the country, they represent a real step forward in supporting growth.
Here in Milton Keynes, we know the difference this will make. Too many local firms have told me they hit a ceiling before reaching their potential. By removing these unfair barriers, we can give them the space they need to grow, create more jobs, and keep our communities vibrant.
Milton Keynes is already recognised as one of the best places in the UK to set up a business. With these pro-growth reforms, we can make sure it’s also one of the best places to grow a business.
Read the full article below to see how these reforms will benefit small businesses across Milton Keynes: Small business growth at heart of new rates reform, say Milton Keynes leaders
